A friend (originally from Wales, now in New York) told me off for starting a blog about the bad times, calling me a scaremongerer. Yikes! Wouldn't want to be one of those ...
But seriously, I'm not here to complain or to pour darkness all over the page. I'm honestly trying to collect pieces as they come up about the crash and the hoped for recovery. If things look good I'll be positive, if it is all going to hell in a handbasket I'll probably be a little dark.
But just for Rhodri, here is the first piece of good news from the US housing market that's been around for a while. The NYT has a piece on the housing market in Sacramento talking about how the volume of sales has increased significantly and that prices have started to stabilise (or is that stabilize?).
"Investors and first-time buyers, the traditional harbingers of a housing rebound, are out in force here, competing for bargain-price foreclosures. With sales up 45 percent from last year, the vast backlog of inventory has diminished. Even prices, which have plummeted to levels not seen since the beginning of the decade, show evidence of stabilizing."
As the piece goes on to say, volumes usually pick up before prices, but if the backlog of unsold properties is coming down along with the time to sale we could be hitting a bottom of sorts.
Was that happy enough for you Rhod?
F
Getting there. :o)
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